Pershing Square Capital Management, the hedge fund of famous investor Bill Ackman, bought a significant amount of a company in the third quarter of the year.
The famous investor’s hedge fund Bill Ackman, Pershing Square Capital Managementbought a significant amount of shares in Nike (which also has its variant in Cedears) in the third quarter of the year. Specifically, it acquired 13.24 million nominals for US$1,170 million, at a rate of US$88.40 each.
In this way, Nike became the sixth most important company in the fundoccupying a 11.15% of the total thanks to the 16.28 million shares valued at US$1,439 million.
Apparently, Ackman and his team see value in the famous sports apparel manufacturerespecially considering that its shares have already fallen 56% from the November 2021 high and 29% so far this year alone.
Specialists assure that with this acquisition they will have a great quarterly cash flow, since Nike’s board of directors increased its dividend by 8% to US$0.40 per share. Of the 16.28 million, assuming the stock is worth the same, On January 2, 2025, he would earn US$6.5 millionwhich would imply an annualized return of 2.11%.
On the other hand, it is expected that the actions of Nike be revalued in the future due to the arrival of Elliott Hill to the executive direction replacing John Donahoe. Hill, who was president of Nike’s Consumer and Marketing business until 2020 and led marketing and commercial operations for Nike.
How to buy the NIKE Cedears
To invest in Nike From Argentina, all you have to do is open a client account in a brokerage company regulated by the National Securities Commission. Cedears or Argentine Deposit Certificates are instruments that are equivalent to buying the underlying stock listed abroad (NYSE: NKE).
The cedars can be operated in weights (BCBA: NKE) and follow the evolution of the CCL dollar, which makes it possible to evade the Argentine risk and, at the same time, hedge against a possible exchange rate jump.
Source: Ambito
